First law: 1965.
Current law: 1991.
Type of program: Social insurance system.
Exchange rate: U.S.$1.00 equals 2,360 cedi.
Employed persons. Self employed persons have option to join.
Voluntary affiliation for persons covered under previous discontinued program. Special system for members and officers of the armed forces.
Insured person: 5% of earnings. Self-employed, 17.5% of income.
Employer: 12.5% of payroll.
Government: None.
Old-age benefit: Age 60 (55-59 with reduction, unless work is in underground mine, steel mill, or other hazardous employment) with minimum contribution of 240 months. Old-age grant payable to workers who lack sufficient contributions for old-age pension.
Disability benefit: Permanent incapacity for any gainful employment; 12 months contributions within last 36 months.
Survivor benefit: Death of insured person before age 72.
Old-age benefit: Minimum pension, 50% of average annual salary for 3 highest years' earnings; increased by 1.5 percentage points for each 12 months of contribution beyond 240 months.
Maximum pension, 80% of average earnings of members with earnings in the top 5 percent.
Workers may take 25% of pension as a lump sum.
Old-age grant for non-qualifying contributors: Lump sum equal to refund of contributions plus interest equal to 50% of prevailing government treasury rate.
Disability benefit: Same as old-age benefit.
Survivor benefit (payable to nominated dependents): If deceased was pensioner, lump sum benefit computed on present value of unexpired pension up to age 72. If deceased with 240 months of contribution was not a pensioner, a lump sum benefit is payable equal to present value of 12 years' pension; if deceased had less than 240 months contribution and was not a pensioner, lump sum benefit equal to present value of 12 years' pension based on 50 percent of the average of the best 3 years salary. (Present value of pension computed using prevailing real rate of interest.)
Ministry of Finance and Economic Planning, general supervision.
Social Security and National Insurance Trust, administration of programs through tripartite management board.
No statutory benefits. Employers provide medical care for employees and dependents through collective agreements.
First law: 1940.
Current law: 1987.
Type of program: Employer liability/compulsory insurance with private carrier.
Employed persons. (Earnings ceiling has been abolished.)
Insured person: None.
Employer: Whole cost, through direct provision of benefits or insurance premiums.
Government: None.
Work-injury benefits: Minimum qualifying period is 6 months.
Temporary disability benefit: Periodic payment of difference in earnings before accident and actual or potential earnings after accident. Payable after 5-day waiting period for up to 24 months at the discretion of the Chief Labour Officer.
Permanent disability benefit: Lump sum of 96 months' earnings at time of injury, if totally disabled.
Constant-attendance supplement: 25% of total disability benefit.
Partial disability: Smaller lump-sum amounts, according to schedule in law.
Medical benefits: Medical, surgical, hospital, and nursing care; medicines and appliance expenses up to specified amounts.
Survivor benefit: Lump sum of 60 months' earnings at time of injury. Payable to dependents of deceased; reduced amounts if only partial dependents survive.
Labor Department, Ministry of Mobilization and Social Welfare, enforcement of law.
Employers may insure liability with private insurance companies.